Global small hydropower market is anticipated to grow significantly in the forecast period owing to its cost-effective generation as compared to other technologies. Small hydropower is the generation of hydroelectric power on small scale for local community or industry purpose. This technology is also used for distributed generation in a provincial electricity grid. They are mostly built in isolated regions that do not have national electricity grid. Small hydro projects normally support mini civil construction works and little reservoirs. They have relatively low environmental impact in comparison to large hydropower.
The growth of small hydropower market is driven by long life cycle of hydropower, low investment cost, growing electricity prices, economic benefits offered by hydropower, high reliability and growing government initiatives in Asia Pacific regions for the installation of renewable energy. Additionally, eco-friendliness and high efficiency of hydropower is also expected to drive the market. However, significant logistics prices incurred and constantly changing climatic conditions are hampering the small hydropower market.
Growing need for electricity supply in remote regions along with growing awareness for small hydropower without affecting the environment is trending in the market. High lighting intensity, line stability, load shedding issues and poor equipment compatibility with old infrastructure are few factors challenging the market.
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Small hydropower market is categorized on the basis of type, application, and geography. On the basis of type, market is divided into small hydro (1 MW-20 MW), mini hydro (100 kW-1 MW), and micro hydro (5 kW-100 kW). Small hydro (1 MW-20 MW) segment is expected to lead the market owing to high preference for SHP installed capacity. Other segments are also expected to grow according to the requirements for various applications. In terms of application, market is divided into commercial, residential, and industrial. Industrial segment leads the market due to growing industrialization in several economies.
Geographically, market is segmented as North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is expected to dominate the market in the forecast period owing to the regulatory compliances (FERC) Federal Energy Regulatory Commission to focus on renewable energy production and increasing need for supplying electricity in non-grid connectivity regions. Moreover, growing foreign investment in Africa is also expected to lead the market in future.
The key players in small hydropower market include Andritz Hydro, Statkraft, Tokyo Electric Power Company, Chubu Electric Power Company, Kansai Electric Power Company, Centrais Eletricas Brasileiras S.A., Norsk Hydro ASA, Centrais Eletricas do Norte do Brasil S.A., China Three Gorges Corporation, Voith Hydro, IHI Corporation, Datang International Power Generation Company Limited, Chugoku Electric Power and State Development & Investment Corporation among others.
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Market Segment:
Leading players of Small Hydropower including:
• Voith GmbH
• Andritz Hydro
• GE
• Siemens
• Agder Energi AS
• 24H – Hydro Power
• Lanco Group
• Derwent Hydroelectric Power
• StatKraft
• RusHydro
• Fortum Oyj
Market split by Type, can be divided into:
• Small Hydro (1 MW – 20 MW)
• Mini Hydro (100 kW – 1 MW)
• Micro Hydro (5 kW – 100 kW)
Market split by Application, can be divided into:
• Residential Electricity
• Commercial Electricity
• Industrial Electricity
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/energy
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